Perpetual Industries (OTC: PRPI), a diversified research and development company of energy-efficient technologies and commercialization of niche products, today announced that it will offer up to 140 shares of its Series A Preferred Stock at $50,000 per share for an aggregate offering amount of $7 million. Per the update, the shares will be offered to accredited investors and institutional investors only pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended. The purpose of the offering is to secure funds to be used in the first stage of the company’s expansion plan for cryptocurrency mining operations at its Auburn, Indiana-based 22,000-square-foot facility. Perpetual intends to use the net proceeds for the acquisition of cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software, working capital, and for general corporate purposes. “There is a tremendous opportunity available for Perpetual to capitalize on the global growth of cryptocurrencies to maximize the company’s return on assets in the rapidly-growing blockchain ecosystem,” said Brent Bedford, chairman and CEO of Perpetual Industries. “We have received strong support in our financing activities thus far, and we are looking forward to significant growth of the company’s revenues and assets by taking advantage of this fast-growing sector.”
To view the full press release, visit https://ibn.fm/GUZqa
About Perpetual Industries Inc.
Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries is in the business of research and development of energy-efficient technologies and the commercialization of niche products. The company’s divisions include blockchain, cryptocurrency mining, renewable energy, custom software, mobile App solutions, white goods, artificial intelligence, graphic rendering and cloud computing. The company’s proprietary technology is known as the XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products. Current projects under development using XYO include a proprietary wind turbine called the WindSilo and the OEM manufactured XYO enhanced domestic washing machine. Perpetual Industries has recently closed two key acquisitions, which now form powerful synergistic subsidiaries and divisions of the company, increasing its footprint across multiple rapidly growing markets and expanding its diverse revenue streams. In addition, the company is working on the development of solutions to integrate the powerful capabilities of disruptive blockchain technology and continuing its development of the Green Energy Mining System (“GEM”). For more information about Perpetual and its divisions, please visit www.PerpetualIndustries.com.
NOTE TO INVESTORS: The latest news and updates relating to PRPI are available in the company’s newsroom at https://ibn.fm/PRPI
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